According to Stratistics MRC, the Global Next Generation Energy Storage Systems market is projected to grow at a CAGR of 9.4% during the forecast period 2015 to 2022. The growing need of renewable energy sources, advancement in energy grid installation and construction are the key factors driving the market growth. Moreover increase in demand for electric vehicles is playing a significant role in emphasizing the market for next generation energy storage. However, environmental issues and high capital investments are hindering the market.

Vast usage of energy storage systems in transportation segment is showing tremendous growth in the market because of its storage systems. Since policies regarding electric vehicles are encouraging the market growth, Europe has occupied the dominant share in the market followed by U.S. Asia Pacific region is expected to register high growth with regards to advancement in energy storage in the forth coming years.

Some of the major players in the global Next Generation Energy Storage Systems market include